Liberty Media financial results: F1 is getting its head above water

La Formula 1 is doing better, thanks for asking. Liberty Media, the owner of the sport, revealed its financial results for the third quarter of 2021 this Thursday, November 4. As could be expected, the results are positive compared to the same period the previous year.

Indeed, F1 earned 668 million dollars (578 euros) in this quarter, compared to 381 euros in 120. Even better, the loss of 516 million dollars (906 euros) was transformed into profit of 480 euros.

These satisfactory results are to be put... to the benefit of the return of spectators to the circuits. Between July and September 2020, the public was refused entry to the Grands Prix, which took place strictly behind closed doors due to coronavirus.

In addition, the Covid-19 crisis had led F1 to urgently modify the contracts with the promoters of the events, apparently with some exceptional discounts and a loosening of the reins for the organizers of each race. Here again, the gradual return to the world before has clearly begun.

Stefano Domenicali, the CEO of F1, is delighted. “Formula 1 is firing on all cylinders and delivering results on the track, for our fans and partners and our investors. We've seen results grow with fans at the tracks and with engagement across all platforms. » According to Liberty Media, F1 TV subscriptions and the arrival of new sponsors also helped offset the drop in TV rights revenue.